FREQUENTLY ASKED FINANCE & CREDIT QUESTIONS IN RAPID CITY

Finance FAQs

 

Q: I've been turned down for credit in the past; does applying for another car loan hurt my credit even more?

A: We have years of experience working with folks just like you! With our Guaranteed Credit ApprovalSM process we make sure you get the solution that works best for you, without sending your credit application to dozens of lenders only to harm your credit score.

 

Q: What documents should I bring with me to the dealership?

A: We will often require some documents that we pass along to our lending partners. If possible please bring the following items:

    - Proof of Income - recent pay stub, tax return, or bank statements

    - Proof of Address - bill or invoice sent to your residence that shows your address

    - References - Name, address and phone number of 6 personal references

    - Trade title - if you're trading in a vehicle and have the title, please bring it. If your trade has a payoff, just bring the name of the lienholder and we'll take care of the rest.

    - If you have a checking account, bring your most recent statement.

    - Photo ID

    - If you have insurance on your current vehicle, please bring your insurance card.

 

Q: What if I don't currently have insurance?

A: Don't worry; we can help arrange for insurance on your new vehicle.

 

Q: Will my new loan show up on my credit report?

A: Yes, any financing arranged at Liberty Mitsubishi will show up on your credit report. This makes sure that your timely payments on your new vehicle help re-build your credit or help you get your credit established.

 

Q: Does this Guaranteed Credit Acceptance process require money down?

A: This depends on several factors such as time on job, income, credit, and the vehicle type. Ask any of our credit experts for more information.

 

Q: Where do I make payments on my new car?

A: All payments will be sent directly to the lender or payments can be setup on autopay directly from your checking account.

 

Q: What if I want to sell my car down the road without paying it off completely?

A: No problem. We can help you trade into a Nicer, Newer® car whenever you're ready. We typically suggest you have made at least 12, on-time payments on your current vehicle, but every situation is unique. Ask our credit experts for more information.